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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
AL GARAS FOR SPICES & HERBS INDUSTRY |
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|
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Registered Office : |
4 Mahmoud Fahmy El
Noqrashi Street, El Sheikh Square, Mansheya, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1984 |
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Com. Reg. No.: |
113460, Alexandria |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Production, processing and packaging of spices and herbs, tobacco and dried fruits |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : AL GARAS FOR SPICES & HERBS INDUSTRY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1984
Commercial Registration Number : 113460, Alexandria
Tax Card Number : 202-485-862
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 15
Activities : Production, processing and packaging of spices and herbs, tobacco
and dried fruits.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL GARAS FOR SPICES
& HERBS INDUSTRY
Registered &
Physical Address
Street : 4 Mahmoud Fahmy El Noqrashi
Street
Area : El Sheikh Square, Mansheya
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4835801 / 4835802 / 4853131
Facsimile : (20-3) 4835803 / 4865065
Mobile : (20-12) 2136259 / 2200189
Email : info@algarasspices-herbs.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office (s)
Location Description
·
Plot No
7, Block 1, Industrial Zone No. 3 Factory
premises
Borg Al Arab City
Alexandria
Tel: (20-3) 4599245
Fax: (20-3) 4594052
Name Position
·
Dr
Noshy Gad Garas Managing
Partner
·
Dr
Fawzia Gad Garas Partner
·
Michael
Kamel Factory
Manager
·
Shaaban
Khamis Production
Manager
·
Awny
Abd El Nour Finance
Manager
·
Sherif
George Nagib Export
Manager
·
Emad
Samir Sales
Manager
·
Ramy
Lamie Quality
Manager
Date of Establishment : 1984
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 113460,
Alexandria
Tax
Card No. : 202-485-862
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s) Percentage
·
Dr
Noshy Gad Garas 90%
·
Dr
Fawzia Gad Garas 10%
·
Bell
Food Co
Alexandria
Activities: Engaged in the import, production,
processing and packaging of spices and herbs, tobacco and dried
fruits.
Import
Countries: Turkey, Brazil,
Malaysia, India, Ethiopia, Mexico and Singapore.
Export
Countries: Germany, France,
United States of America, Syria and Brazil.
Brand Names: AL GARAS
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 40,000,000 £E 44,065,674
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
Talaat Harb Street
Port Tawfik
Tel: (20-62) 231174
Fax: (20-62) 331172
·
Bank of
Alexandria
19 Salah Salem Street
El Gomrok, Mansheya
Alexandria
Tel: (20-3) 4827995
No complaints
regarding subject’s payments have been reported.
According to local
sources subject’s financial position is described as healthy and profitable
with payments made in a timely manner. The operating history is clear.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
|
UK Pound |
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.